The New York Times is about to vacate “at least eight floors” upon a massive drop in financial earnings (95.7% drop in the last quarter alone), according to an internal memo.
It’s worth noting that President Donald Trump launched an all-out assault on the news organization after repeatedly publishing false and defamatory articles.
In a message to company employees, CEO Mark Thompson said that the company had “made the decision to consolidate our footprint across the building to create a more dynamic, modern and open workplace, one that is better suited to the moment.”
“We’re planning significant investments in a redesign of our existing space in order to facilitate more cross-departmental collaboration. We expect a substantial financial benefit as well. All told, we will vacate at least eight floors, allowing us to generate significant rental income,” he continued.
The memo also confirmed that the near 400 employees currently stationed in the floors soon to be located will be moved to a temporary location until the end of 2017, where the redesign will be completed.
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